On September 10, 2008, the U.S. Department of the Treasury issued its "2008-2009 Priority Guidance Plan." The plan includes a number of exempt organization related issues, including the following:

1. Guidance on a voluntary compliance program for exempt organizations.

2. Revenue procedure to modify Rev. Proc. 75-50 as to the publication requirement by a private school of its nondiscriminatory policy.

3. Proposed regulations under §§509 and 4943 regarding the new requirements for supporting organizations, as added by the Pension Protection Act of 2006.

4. Final regulations under §§4965, 6011, and 6033 on excise taxes on prohibited tax shelter transactions and related disclosure requirements. Proposed regulations were published on August 20, 2007.

5. Proposed regulations regarding the new excise taxes on donor advised funds, as added by the Pension Protection Act of 2006.

6. Regulations to implement Form 990 revisions. • PUBLISHED 09/09/2008 in FR as TD 9423.

7. Proposed regulations to update regulations under §6104(c) relating to disclosures to state charity agencies for changes made by the Pension Protection Act of 2006.

The Treasury describes its priority guidance plan document this way:

The 2008 – 2009 Priority Guidance Plan contains 314 projects to be completed over a twelve-month period, from July 2008 through June 2009. This year's plan will address a variety of issues, including recent legislation, conditions in the housing market, the current economic environment, and important international issues.

In addition to the items on this year's plan, the Appendix lists the more routine guidance that is published each year.

We intend to update and republish the Priority Guidance Plan during the plan year to reflect additional guidance that we intend to publish during the plan year. The periodic updates allow us flexibility throughout the plan year to consider comments received from taxpayers and tax practitioners relating to additional projects and to respond to developments arising during the plan year. For example, we updated the 2007 – 2008 Priority Guidance Plan to reflect the publication of guidance responding to current developments such as new legislation and changes in the economy.